Kiddie World uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available for the quarter ending September 30, 2018: Cost Retail $410, 000 545, 000 1, 320, 000 Beginning inventory Net purchases Freight-in Net markups Net markdowns Net sales 910, 000 44, 400 59, 000 29, 000 1, 255, 000 Estimate ending inventory and cost of goods sold using the conventional method. (Round ratio calculation to 2 decimal places (i.e. 0.1234 should be entered as 12.34%.))